Correlation Between JINS HOLDINGS and KERINGUNSPADR 1/10
Can any of the company-specific risk be diversified away by investing in both JINS HOLDINGS and KERINGUNSPADR 1/10 at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining JINS HOLDINGS and KERINGUNSPADR 1/10 into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between JINS HOLDINGS INC and KERINGUNSPADR 110 EO, you can compare the effects of market volatilities on JINS HOLDINGS and KERINGUNSPADR 1/10 and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in JINS HOLDINGS with a short position of KERINGUNSPADR 1/10. Check out your portfolio center. Please also check ongoing floating volatility patterns of JINS HOLDINGS and KERINGUNSPADR 1/10.
Diversification Opportunities for JINS HOLDINGS and KERINGUNSPADR 1/10
-0.37 | Correlation Coefficient |
Very good diversification
The 3 months correlation between JINS and KERINGUNSPADR is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding JINS HOLDINGS INC and KERINGUNSPADR 110 EO in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KERINGUNSPADR 1/10 and JINS HOLDINGS is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on JINS HOLDINGS INC are associated (or correlated) with KERINGUNSPADR 1/10. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KERINGUNSPADR 1/10 has no effect on the direction of JINS HOLDINGS i.e., JINS HOLDINGS and KERINGUNSPADR 1/10 go up and down completely randomly.
Pair Corralation between JINS HOLDINGS and KERINGUNSPADR 1/10
Assuming the 90 days horizon JINS HOLDINGS INC is expected to generate 1.54 times more return on investment than KERINGUNSPADR 1/10. However, JINS HOLDINGS is 1.54 times more volatile than KERINGUNSPADR 110 EO. It trades about 0.22 of its potential returns per unit of risk. KERINGUNSPADR 110 EO is currently generating about -0.17 per unit of risk. If you would invest 3,820 in JINS HOLDINGS INC on October 15, 2024 and sell it today you would earn a total of 360.00 from holding JINS HOLDINGS INC or generate 9.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
JINS HOLDINGS INC vs. KERINGUNSPADR 110 EO
Performance |
| Timeline |
| JINS HOLDINGS INC |
| KERINGUNSPADR 1/10 |
JINS HOLDINGS and KERINGUNSPADR 1/10 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JINS HOLDINGS and KERINGUNSPADR 1/10
The main advantage of trading using opposite JINS HOLDINGS and KERINGUNSPADR 1/10 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JINS HOLDINGS position performs unexpectedly, KERINGUNSPADR 1/10 can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in KERINGUNSPADR 1/10 will offset losses from the drop in KERINGUNSPADR 1/10's long position.| JINS HOLDINGS vs. SIERRA METALS | JINS HOLDINGS vs. MICRONIC MYDATA | JINS HOLDINGS vs. Nippon Light Metal | JINS HOLDINGS vs. DATATEC LTD 2 |
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Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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